DA Davidson Increases Manhattan Associates (NASDAQ:MANH) Price Target to $260.00

Manhattan Associates (NASDAQ:MANH - Get Free Report) had its price target boosted by investment analysts at DA Davidson from $240.00 to $260.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the software maker's stock. DA Davidson's target price indicates a potential upside of 15.20% from the company's previous close.

Several other research firms have also issued reports on MANH. Raymond James increased their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 31st. Citigroup lowered their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a "neutral" rating for the company in a report on Wednesday, April 24th. Rosenblatt Securities reissued a "neutral" rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Finally, Redburn Atlantic began coverage on shares of Manhattan Associates in a report on Tuesday. They issued a "buy" rating and a $260.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $240.50.

Manhattan Associates Stock Up 1.0 %

Manhattan Associates stock traded up $2.24 during trading hours on Thursday, hitting $225.69. The stock had a trading volume of 384,746 shares, compared to its average volume of 388,616. The company has a 50-day moving average of $234.12 and a two-hundred day moving average of $228.41. Manhattan Associates has a fifty-two week low of $170.75 and a fifty-two week high of $266.94. The company has a market cap of $13.90 billion, a PE ratio of 73.12 and a beta of 1.45.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.23. The firm had revenue of $254.55 million for the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts forecast that Manhattan Associates will post 2.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Manhattan Associates

A number of hedge funds and other institutional investors have recently bought and sold shares of MANH. Raymond James Financial Services Advisors Inc. raised its holdings in Manhattan Associates by 9.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,548 shares of the software maker's stock worth $306,000 after acquiring an additional 129 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Manhattan Associates by 5.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,684 shares of the software maker's stock valued at $2,507,000 after buying an additional 712 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Manhattan Associates by 958.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,574 shares of the software maker's stock valued at $25,414,000 after buying an additional 116,425 shares in the last quarter. Fifth Third Bancorp increased its holdings in Manhattan Associates by 23.0% during the third quarter. Fifth Third Bancorp now owns 599 shares of the software maker's stock worth $118,000 after buying an additional 112 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Manhattan Associates by 53.1% during the third quarter. Teacher Retirement System of Texas now owns 40,083 shares of the software maker's stock worth $7,923,000 after buying an additional 13,897 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.